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This statistic highlights Align Technology’s Revenue by Segment, split between Clear Aligner and Systems and Services, reported on a quarterly basis.
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Systems and Services||$113.38||$169.85||$178.31||17.55%|
(All figures in millions, except percentages)
The reportable segments’ performance measures include net revenues, gross profit, and income from operations. All regional revenues, the corresponding cost of net revenues, and operating expenses directly attributable to the segment are included in income from operations for each segment. Certain operating expenses are attributed to operating segments, and each allocation is measured differently depending on the facts and circumstances surrounding the costs being assigned.
The total revenue generated from the segments has been increasing every quarter. The revenue increased 0.5% on a quarter-on-quarter basis, from $1,010.81 million in Q2 2021 to $1,015.90 million in Q3 2021. The year-on-year growth stood at 38.38%, when compared to Q3 2020, where the revenue generated was $734.14 million.
Align Technology’s revenue can be bifurcated into the following segments:
Align Technology’s Invisalign clear aligner solutions are available in several treatment packages to meet the individual treatment needs of clinicians and their patients. If a patient’s therapy deviates from the original treatment plan, most of the Invisalign System treatment plans allow dental professionals to purchase additional aligners. Additional aligner orders are subject to various conditions outlined in the company’s terms and conditions, including the number and timing of additional aligner orders.
The Clear Aligners segment of the company contributes 82.45% to the company’s total revenue in Q3 2021, amounting to $837.59 million. The revenue generated from this segment declined slightly, from $840.95 million in Q2 2021 to $837.59 million in Q3 2021, making a growth of 0.4% on a quarterly basis. However, there was a 34.93% increase on a yearly basis, from Q3 2020 where the revenue generated was $620.76 million.
Systems and Services
This segment includes Intraoral scanning which is a rapidly developing technology that has a significant impact on dental practice. Digital scanning is faster, more efficient, exact, and comfortable for patients because it allows a dental practitioner to build a 3D image of a patient’s teeth (digital scan) using a handheld intraoral scanner. Using the iTero intraoral scanners early in the treatment process and integrating the results with digital workflows that allow clinicians and patients to view and assess numerous treatment options with detailed images and CAD/CAM solutions is helping to enhance treatments, outcomes, and happiness.
The total revenue generated from this segment has been increasing every quarter. The revenue increased 4.98% on a quarter-on-quarter basis, from $169.84 million in Q2 2021 to $178.31 million in Q3 2021. The year-on-year growth was 56.73% when compared to Q3 2020, where the revenue generated was $113.38 million. The contribution also increased from 15.44% in Q3 2020 to 17.55% in Q3 2021.
This increase reflects continuous acceptance of the iTero Element 5D and 5D Plus Series of next-generation scanners and imaging systems, which were launched in February 2021, as well as higher average selling prices (“ASP”), owing to a positive product mix shift toward higher-priced scanners.
Align Technology Inc is a global medical device company that makes Invisalign transparent aligners, iTero intraoral scanners, and dentistry services, as well as exocad computer-aided design and production software for dental laboratories and practitioners. The items are primarily meant for the treatment of malocclusion, or tooth misalignment, and are designed to assist dental professionals in achieving the clinical outcomes they expect as well as the patient outcomes they desire. Align Technology’s mission is to make transparent aligners the standard therapy for malocclusions, and its Invisalign System is the treatment of choice for orthodontists, general dentists, and patients all over the world. The Invisalign System has been used to treat over 9.6 million patients around the world.
Align Technology finalized the acquisition of exocad Global Holdings GmbH (“exocad”), a privately held German dental CAD/CAM software firm that provides fully integrated workflows to dental labs and clinics, in April 2020. Exocad’s expertise in restorative dentistry, implantology, guided surgery, and smile design was purchased by the firm to complement the Invisalign System and iTero digital solutions and open the way for modern, cross-disciplinary dentistry in labs and at the chairside. Exocad today has over 200 partners worldwide, with over 40,000 software licenses installed.
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